Kenya Tries To Lure In South African Firms–Again

Kenya Tries To Lure In South African Firms–Again

From Business Day Live

Blue-chip South African companies such as South African Breweries and Nandos have endured a spanking in Kenya.

Their experiences have left local firms scratching their heads about how to successfully access Kenya, but there are new efforts to build commercial bridges between the countries.

Kenya’s ambassador to South Africa, Patrick Wamoto, recently led a business group to his country to illustrate its importance as a gateway to East African commerce.

Standard Bank gutsed it out in Kenya, and is now planning to use this foothold as a springboard into the rest of the region. The bank is preparing to set up offices in Ethiopia and the Ivory Coast, in West Africa. As Africa’s most populous country after Nigeria, Ethiopia is seen as a potentially big market for foreign banks.

This year, Kenya saw leadership changes as Raila Odinga was voted out as president in favor of the controversial Uhuru Kenyatta. Wamoto said the country’s investment policy was guided by “Vision 2030”, which is anchored by macroeconomic stability, governance reforms, wealth creation and infrastructure development.

Read more at Business Day Live.